duckncover
Monopolistic competition varies in that the products are often quite similar, and differences between them are based on things other than price.
Monopolistic competition
Monopolistic competition vs. perfect competition
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replied to: duckncover
gwynraven
Replied to: Monopolistic competition varies in that the products are often quite similar,...
However, perfect competition carries many of the same characteristics as monopolistic competition, for instance, the need for many buyers and many sellers.